Full Tilt Poker Releases Statement About Potential Investors

Wednesday, August 24th, 2011 by t2admin

Full Tilt Poker has just released a news statement over at PokerNews. For some reason they decided to send the press release to PokerNews exclusively. After reading over the brief press release there is really nothing to be learned. The press release states that Full Tilt Poker is continuing to look for an investor to purchase the brand and assets of the company. Full Tilt is also looking for a partner if they can’t find a buyer to purchase the company.

For the last month and a half now Full Tilt Poker has been in discussions with a group of European investors. Apparently the two companies haven’t been able to come to an agreement and the negotiations are now stagnant. Full Tilt stated that they’re still in negotiations with the European investors, but the company is also looking at other investors now as well. There has been a huge lack of communication since the closure of Full Tilt Poker and many players have given up chasing their money until it’s reported that someone has purchased Full Tilt Poker.

In the press release Full Tilt states that they’ve been quiet the past month and a half because they need to keep negotiations confidential, but I think that’s a bit of an excuse for not wanting to communicate with enraged clients that are owed millions of dollars right now. Full Tilt Poker states at the end of the release that their primary goal is to find an investor with cash; so that the company can payout every single player around the world the money they’re owed.

Full Tilt Poker has one of the best poker software suites in the industry and it’s only a matter of time before the software is sold to another poker site or used again at Full Tilt. The problem right now is that the brand has been receiving tons of bad publicity and the longer it takes to find an investor, the worst their brand is being tarnished. I’m not sure if any investor is going to want to continue using the Full Tilt brand and I’m unsure how many players would trust the site under new ownership.

I think the investor would be better off using the Full Tilt brand because of its reach around the world. If the new owner tried creating a new brand it’d be hard to not be associated with Full Tilt considering the new brand would be using Full Tilt’s software suite. Full Tilt Poker could bounce back in my opinion within a few years if they clean house and start over with new owners and new staff that are qualified to run a poker room.